How much student loan interest can I deduct?
Estimate the student loan interest deduction for 2025, 2026, or 2027 planning. Enter qualified interest paid, filing status, MAGI, and dependent status to estimate the deduction after the $2,500 cap and annual MAGI phaseout.
student loan interest deduction calculator
Quick answer
The student loan interest deduction is the lesser of $2,500 or qualified interest paid, reduced or eliminated when MAGI enters the annual phaseout range.
Also answers
- student loan interest phaseout
- 1098-E deduction calculator
- education loan interest deduction
- Schedule 1 student loan interest
Good fit when
- Borrowers with Form 1098-E
- Education tax planning
- MAGI phaseout checks
Have ready
- MAGI
- Interest paid
- Filing and dependent status
Result you get
Estimated student loan interest deduction and phaseout reduction.
How this calculation works
- Caps qualified student loan interest at $2,500.
- Disallows married filing separately and dependent taxpayers.
- Applies the 2025, 2026, or 2027 planning MAGI phaseout range by filing status.
- Shows the phaseout reduction and final deduction.
Common mistakes and caveats
- The loan must be a qualified student loan and you must be legally obligated to pay the interest.
- Form 2555 or Puerto Rico/American Samoa exclusions can require the IRS worksheet.
- This is an adjustment to income and does not require itemizing.
Last updated & sources
Last updated June 22, 2026.
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